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<br />. .,' <br /> <br />whatsoever to expend any funds in connection with any action or <br />proceeding to clear a defect in title which may reasonably cost in <br />excess of $5000.00. <br /> <br />13. Property Inspection. Purchaser is relying upon <br />Purchaser's own inspection of the property and, to this end, shall <br />have the right to reinspect the property prior to closing. In <br />consideration of Purchaser's right of reinspection, the closing of <br />the sale and purchase of the property by the parties shall <br />constitute conclusive evidence of the acceptability of the <br />condition of the property and all fixtures and improvements and all <br />defects and discrepancies not noted by Purchaser and provided to <br />Seller in writing shall be deemed' to be waived. Purchaser takes <br />the property "as is", having fully inspected the same and without <br />reliance upon any representation of Seller. <br /> <br />14. Notice. Any notice required or permitted by this <br />Purchase Agreement or the purchase money mortgage shall be <br />considered to have been given and received if personally delivered <br />to the parties or their agents personally or deposited in the <br />United States mail postage prepaid by certified or registered mail <br />addressed to the parties at the following addresses: <br /> <br />Seller: <br /> <br />Richard and Jacqueline Simpson <br />3090 North Lexington Ave. <br />Roseville, MN 55113 <br /> <br />'Purchaser: <br /> <br />Northwestern College <br />3003 North Snelling <br />St. Paul, MN 55113 <br />Attention: President <br /> <br />~ _u. ., _ ______ <br /> <br />15. Destruction and Eminent Domain. In the event the <br />property is destroyed, substantially damaged or any part thereof <br />shall betaken by eminent domain, this Agreement shall become null <br />and void, at Purchaser's option, and all monies paid hereunder <br />shall be refunded to Purchaser. Should Purchaser elect to proceed <br />and close the transaction contemplated hereby~ there shall be no <br />reduction in or abatement of the purchase price, but Seller shall <br />assign to Purchaser Seller's right, title and interest in and to <br />all insurance proceeds or award resulting from such destruction or <br />taking of the real estate. Any proceeds paid or payable as a <br />resul t of a taking of the business conducted by Seller or to <br />'compensate for the removal of the same to a different location <br />shall be paid to Seller. <br /> <br />16. Possession. Possession of the property shall be granted <br />by Seller to Purchaser on the date of closing. <br /> <br />7 <br />